1806894 - How-to Transfer Cash Between Two Petty Cash With Different Currencies

You get the error message Currency given is not supported by the cash storage when trying to post a New Outgoing Cash Transfer between two Petty Cash with different currencies (e.g. from an EUR Petty Cash to a USD Petty Cash).

SAP Business ByDesign

Make sure you have entered at least two petty cashes with different currencies each.

1. Go to Payment Management work center
2. Go to Petty Cash view
3. Select any active petty cash and take note of its currency, which could be found in Balance Amount column
4. Click on New and then Outgoing Cash Transfer
5. Fill out Transaction Amount, Posting and Document Date
6. Under To Petty Cash/Bank Account, choose Petty Cash as Selection Target
7. Type a Petty Cash ID which has a currency different from the one you are transferring the money
8. Click on Post
9. Error message Currency given is not supported by the cash storage is displayed

Transfers of cash between petty cash with different currencies are currently not supported in Business ByDesign.

As an alternative solution, you can use a bank account as an intermediate for the cash transaction, because bank accounts can be configured to work with different currencies.

First of all, it's crucial verifying whether the Exchange Rates for these involved currencies are set up as desired.

1. Go to General Ledger work center.
2. Go to Edit Exchange Rates under Common Tasks view.
3. Check if the exchange rate for 'Source Currency: XXX' and 'Target
   Currency: YYY' is set up as desired. If it's not, change it accordingly.
4. Check the same for YYY to XXX.
5. Click on Save and Close.

After that, the process flow would be as below

1. Transfer from XXX petty cash to a bank account
2. Transfer from bank account to YYY petty cash

Part 1

1. Go to Payment Management work center
2. Go to Petty Cash view
3. Select any active petty cash with XXX currency, which could be found in Balance Amount column
4. Click on New and then Outgoing Cash Transfer
5. Fill out Transaction Amount, Posting and Document Date
6. Under To Petty Cash/Bank Account, choose Bank Account as Selection Target
7. Select the desired Bank Account ID
8. Click on Post

Part 2

1. Go to Payment Management work center
2. Go to Petty Cash view
3. Select any active petty cash with YYY currency, which could be found in Balance Amount column
4. Click on New and then Incoming Cash Transfer
5. Fill out Transaction Amount in YYY (corresponding to Part 1 in XXX, according to exchange rate that you set up before) Posting and Document Date
6. Under To Petty Cash/Bank Account, choose Bank Account as Selection Target
7. Select the same Bank Account ID that Part 1
8. Click on Post

It is preferred that you create a dummy bank account for this since you would not receive a bank statement and hence you would not be able to confirm the bank part of the transaction unless the money is actually deposited to the bank account and then withdrawn. 
The bank statement items will balance to zero since it should effectively be only used for currency conversion.
As a result you have transferred money between two petty cash with different currencies and the cash position from the bank account you've used as an intermediate remains the same.

Petty Cash Transfer, Payment Management, Currencies. , KBA , AP-PAY , Payment Processing , How To